Hong Kong's New Crypto Regulation: Will It Attract the Industry? - Ep. 505
Unchained
Intro
This chapter delves into the recent crypto regulations implemented in Hong Kong as of June 1st, 2023. Featuring insights from compliance experts, it explores the potential impact of these regulatory changes on the cryptocurrency industry's future in the region.
On June 1, Hong Kong implemented new crypto regulations to license exchanges. Two experts – Angelina Kwan, CEO of Stratford Finance (and former COO of BitMEX), and Adrian Lai, founder and managing partner of Newman Capital – weigh in on the new rules in Hong Kong, which tokens can be listed, recent reports that China may be sanctioning this activity, and how the crypto community is responding so far. Plus, they dissect the latest developments of the digital yuan, whether China will ever embrace public blockchains, and the shifting global regulatory landscape for crypto, and more.
Listen to the episode on Apple Podcasts, Spotify, Overcast, Podcast Addict, Pocket Casts, Stitcher, Castbox, Google Podcasts, TuneIn, Amazon Music, or on your favorite podcast platform.
Show highlights:
- Angelina’s and Adrian’s backgrounds in crypto in Hong Kong
- how crypto in Hong Kong has evolved over the years
- what the new Hong Kong Securities and Futures Commission (SFC) rules consist of, including which tokens will be allowed in the newly licensed exchanges
- how the Hong Kong Monetary Authority (HKMA) has taken onboarding crypto companies in the banking system very seriously
- why Angelina says that crypto companies have already stopped leaving Hong Kong
- how some people are worried how a potential crackdown on crypto in China could affect Hong Kong
- why the SFC has committed to issuing a paper on tokenization and why it is particularly interested in real estate
- the importance of the development of the digital yuan
- whether the new regulations in Hong Kong mean that China is prepared to adopt crypto in the mainland
- how China is 'excelling' at adopting real-world use cases, according to Angelina
- why you can't say “NFTs” in China and why the metaverse represents a “huge problem,” according to Adrian
- whether China will let public blockchains succeed
- how the global regulatory landscape has been changing and what it means for the future of digital assets
- whether Africa is the next frontier of growth and what role the Middle East is playing
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Guests:
- Angelina Kwan, CEO of Stratford Finance
- Adrian Lai, founder and managing partner of Newman Capital
Links
- CoinDesk:
- Hong Kong Securities Regulator to Accept License Applications for Crypto Exchanges Starting June 1
- How Hong Kong Is Gearing Up to Regulate Stablecoins
- Cointelegraph:
- Hong Kong’s regulatory lead sets it up to be major crypto hub
- China doles out millions in digital yuan in bid to boost adoption: Report
- Chinese city public servants to receive digital yuan salaries starting May
- TechCrunch:
- Hong Kong’s crypto rules help it fit in more than stand out, but experts say that’s good
- A peek into China’s stance on web3
- CNBC: One country, two crypto systems: Hong Kong harbors crypto hub ambitions despite China’s crackdown
- Bloomberg: Hong Kong’s Crypto Hub Ambitions Win Quiet Backing From Beijing
- Hong Kong Securities and Futures Commission: SFC concludes consultation on regulation of virtual asset trading platforms
- South China Morning Post: Hong Kong’s crypto market will not have ‘light-touch regulation’, HKMA chief says as city prepares new rules
- Forkast: China: Zhengzhou City proposes metaverse plan
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